The report also estimates that the oil dependency rate will go up to 62 percent next year as oil demand grows 4.3 percent, car ownership increases, urbanization advances and the state boosts oil reserves.

The report also puts China's annual energy consumption at 4.2 billion tons of standard coal last year, falling half a percent year on year, the first drop in 30 years.

It forecast global oil prices would stay low due to plentiful supply and lackluster economic growth.